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LongView | PEXA Whitepaper - What drives house prices in Australia?

By PEXA & Longview • 21 Feb 2023

year to come in property
population growth OECD countries

Australia has one of the highest population growth rates in the world

Population growth rates in Australia are far higher than most developed countries.

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urban density Australian cities

Australian cities have unusual density profiles

High population densities are concentrated in the CBDs of Sydney, Melbourne, and Brisbane, with geographically large, low-density areas surrounding them.

Yield and CAGR growth comparison

Australia’s residential property market is characterised by high capital growth - and low yields

Australian rental yields have not kept up with the increases in property value.

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price growth by property type

Land value also accounts for the difference in growth between house and apartment prices over the long term

In Melbourne, freestanding houses have grown at 7% annually followed distantly by townhouses, medium-density apartments, and high-density apartments.

‘What Drives House Prices in Australia’ is the first Whitepaper in a three part series. View our second Whitepaper release to find out why private renting in Australia is a broken system. 

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